Most consumer industries embraced E-commerce, innovation, and also offer their employees flexible working hours. Germans prefer value and established brands, most of which the diverse consumer industries provide. Located centrally in the continent and with good infrastructure, Germany has the vantage position to access western and eastern European consumer markets. The country is Europe’s largest consumer goods producer and market in terms of population and purchasing power. Germany’s consumer spending is stable because of low levels of private debt and unemployment. The commodities include medical supplies, life-saving machinery, and other hospital equipment. Medical equipment and pharmaceutical goods are among the top German exports and give the country billions of dollars. The same year, the chemical industry employed more than 331,000 people. This result was after spending $3.83 billion in research and development.
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Of the total sale, the country exported 60% of the products to other European countries, 17% to Asia, 7% within the (North American Free Trade Agreement) NAFTA infrastructure, 3% to Latin America and 3% to the rest of the World. In 2016, Germany recorded the third largest sale ($168 billion) in chemical products, behind China and the US. The country’s education system also produces quality graduates ready to work and offers investors a fertile and market ready environment for chemical products. Germany has well-developed chemical research and development infrastructure. The German chemical industry leads in Europe in terms of sales within Europe and exports to other continents. Germany’s competitive advantage over giants like the US and Canada is its combination of cost efficiency, available talent, and a powerful manufacturing base. Germany hosts leading civil and defence aviation manufactures with projections of producing approximately 35,000 new aircrafts within the next twenty years. In 2016, the aviation industry revenue stood at $43 billion. The aviation sector in Germany has been on a constant rise, especially over the last two decades. The country has developed quality research and invested in qualified workforce and infrastructure responsible for a peerless automotive industry for the last 125 years. Worldwide, people appreciate German products like Bayerische Motorenwerke (BMW), Daimler-Benz, and Volkswagen for excellent engineering, innovation, safety, and designs. Globally, many people recognize the innovative and precise nature of German car manufacturers and suppliers. Germans lead in the European automotive industry in both production and sales. This sector has more than 6,419 employees with an ever-growing workforce that generated almost $267 billion in 2015. Germany has a proven engineering tradition and continues to offer modern manufacturing solutions. The machinery and equipment sector drives the high-tech nation and leads in innovations like robotics. Machinery, Automotive, And Aviation Industry
This country also leads in the number of trade fairs, it is the home to more than half of global trade fairs. Germany hosts 53 of the largest 2000 publicly listed companies by revenue globally. German economy remains relatively stable that economists believe that the country is less likely to be affected by financial crisis. In 2016, the country became the third largest global exporter of goods and services.
Most of the world knows Germany because of its manufacturing sector which produces some of the best quality products. Germany has a developed social market economy, the largest in Europe and fourth and fifth largest globally by nominal GDP and GDP PPP (Purchasing Power Parity) respectively.
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